Daily Newsletter-Agri Commodity 24/05/2012
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MARKET WRAP Pepper declines sharply on profit booking and low export demand. Chana prices recovered on fresh buying and low supply. RM Seed declines nearly 2% on ample supply in spot market.
Cardamom prices recovered sharply on shortage on stock. Prices advances nearly 3%. Jeera traded in a mixed trend. It opened gap down then bounced back from its support near 12800 and closed flat at 12982. A bearish trend is expected below 12750. Soya bean continued its downtrend, prices declines nearly 3.1%.
COMMODITY
P. CLOSE
LAST CLOSE
NET CHANGE
% CHANGE
CARDAMOM
1,282.00
1,321.00
39.00
3.04
CHANA
4,154.00
4,135.00
-19.00
-0.46
GUR
1,135.00
1,125.00
-10.00
-0.88
JEERA
12,995.00
13,017.00
22.00
0.17
MENTHA OIL
1,398.00
1,342.00
-56.00
-4.01
PEPPER
40,390.00
38,780.00
-1,610.00
-3.99
POTATO
1,082.00
1,078.00
-4.00
-0.37
RM SEED
3,736.00
3,657.00
-79.00
-2.11
SOYABEAN
3,369.00
3,265.00
-104.00
-3.09
TURMERIC
3,934.00
3,914.00
-20.00
-0.51
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TECHNICAL VIEW CARDAMOM (JUNE) Trend
•Consolidate • Buy on dips
Strategy Resistance Support
• R2 - 1342 • R1 - 1328 • S1 - 1314 • S2 - 1300
CHANA (JUNE) Trend Strategy Resistance
• R2 - 4240 • R1 - 4170
Support
• S1 - 4100 • S2 - 4030
GUR (JUNE) Trend
• Bullish • Buy on dips
Strategy
• Consolidate • Buy on dips
POTATO (JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 1146 • R1 - 1132
Resistance
• R2 - 1099 • R1 - 1085
Support
• S1 - 1118 • S2 - 1104
Support
• S1 - 1071 • S2 - 1057
JEERA (JUNE) Trend
Strategy
• Bearish • Sell on high
MENTHA OIL (MAY) Trend
Strategy
• Consolidate • Sell on high
Resistance
• R2 - 13467 • R1 - 13167
Resistance
• R2 - 1381 • R1 - 1355
Support
• S1 - 12867 • S2 - 12567
Support
• S1 - 1329 • S2 - 1303
PEPPER (JUNE) Trend Strategy
• Consolidate • Sell on high
RM SEED (JUNE) Trend Strategy
• Consolidate •Sell on high
Resistance
• R2 - 39810 • R1 - 39110
Resistance
• R2 - 3767 • R1 - 3692
Support
• S1 - 38450 • S2 - 37750
Support
• S1 - 3622 • S2 - 3547
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SOYABEAN (JUNE) Trend Strategy
• Consolidate • Buy on dips
TURMERIC (JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 3340 •R1 - 3290
Resistance
• R2 - 4064 • R1 - 3964
Support
• S1 - 3240 • S2 - 3190
Support
• S1 - 3864 • S2 - 3764
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